E-clinical solution is a software that aids researchers in analyzing, tracking and managing clinical data. E-clinical solution is used in pharmaceutical sector, biotechnology, research organizations and for designing medical device in order to coagulate clinical research data with the help of modern cutting edge technology. Clinical trial is a practice of inspecting the efficiency and safety of drugs, therapeutic products and medical devices prior to their commercial launch in the market. Proliferation of the internet across the globe coupled with availability of easy access modes is expected to influence the overall market growth. Moreover, credible data analysis and higher efficacy compared to conventional process are alluring companies to adopt to e-clinical solution software for conducting clinical trials. The global e-clinical solution software market is estimated to be surpass USD 6,515 Mn by 2020, expanding at 13.8% CAGR over 2014 to 2020.
Increasing clinical trials and higher investments in R&D activities in the fields of life science and pharmaceuticals is expected to support the growth of global market. Moreover, growing prevalence of chronic disease across the globe is one of the major factor fueling the demand for e-clinical solutions. Lengthy clinical trials and increasing side effects of drugs are compelling the pharmaceutical industry to develop enhanced clinical infrastructure. PMR notes that the demand for e-clinical solution software is significantly high from various end user sections such as clinical research organizations (CROs), healthcare providers and pharmaceuticals companies.
The global e-clinical solution software market has been classified into product type, by mode of delivery and by end user
On the basis of product type, the market is segmented into clinical trial management system, safety solution, electronic clinical outcome assessment solution, randomization and trial supply management and clinical data management. In addition, the randomization and trial supply management segment is anticipated to surpass US$ 416 Mn by 2020, expanding at 9.2% CAGR over the forecast period. By mode of delivery, the market is segmented into, licensed enterprise e-clinical solution, web based e-clinical solution, and cloud based e-clinical solution. By end user, the market is segmented into healthcare providers, clinical research organizations and pharmaceutical.
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On the basis of region, the global e-clinical solution software market is segmented into four key regions North America, Asia, Europe and Rest of the world (RoW). In addition, North America is the largest market for e-clinical solution software. The region is anticipated to expand at 12.6% CAGR over the forecast period to reach US$ 3,622.5 Mn by 2020. In Asia, the market is expected to grow the fastest during 2014 to 2020. Factor such as increasing awareness on healthcare, vast pool of consumers and arriving outsourced clinical trial projects from overseas, especially in countries such as China and India are expected to drive the e-clinical solution software market in the region. The market in North Africa and Middle East is growing due to higher incidence of genetic disorders and lifestyle-associated diseases in the respective regions.
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Key participants identified in the global e-clinical solution software market include Medidata Solutions, BioClinica, Oracle Corporation, PAREXEL International Corporation and OmniComm Systems.
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